Rs 97 Lakh Cryptocurrency Fraud: Pimpri Chinchwad Police Arrest Key Accused
Ravet, 28th April 2025: The Pimpri Chinchwad Cybercrime Police arrested a man from Nashik on Saturday in connection with an online cryptocurrency fraud involving Rs 97 lakh.
A 35-year-old resident of Ravet, who lost the money in the fraud between July of last year and April, filed a complaint with the cyber police on Saturday.
“The arrested individual, who had worked in Dubai, provided mule bank accounts to his handlers in Dubai,” said Pravin Swami, assistant inspector of the Pimpri Chinchwad Cybercrime Police.
According to Swami, the complainant, who is a relative of a deceased political leader, reported that in July last year, the fraudsters contacted him through a mobile messaging app and offered a daily 5% profit on his cryptocurrency investments.
“They also told him he would need to pay a certain commission on the profits. To facilitate the payment, they shared a link to a platform,” Swami explained. The complainant continued investing as instructed, believing he could monitor his profits through the platform. Over time, he transferred Rs 96.93 lakh to various bank accounts, only to lose it all.
The police traced some of the transferred amounts to a bank in Nashik. “We apprehended the suspect in Nashik. After returning from Dubai, he started providing mule bank accounts to his handlers from here on a commission basis,” Swami added.
The investigation is ongoing as the police continue to gather evidence and track down other individuals involved in the scam.
